For accountants in public practice who prepare financial statements, SSARS No. 21 represents the most significant changes to the professional literature in decades. SSARS No. 21 draws a bright line between accounting (preparation) and reporting (compilation and review) services.
In this brief educational video, experts involved in the development of SSARS No. 21 discuss the reasons why the pre-SSARS No. 21 professional literature required revision and clarification.
Read the CPEA Reports
- SSARS No. 21: Changes in the Landscape for Accountants in Public Practice Who Prepare Financial Statements
Learn the fundamentals of SSARS No. 21 and gain an understanding of the changes to compilation and review engagements. In addition, learn about the new requirements and guidance when an accountant is engaged to prepare financial statements but is not engaged to perform an audit, review, or compilation of those financial statements.
- SSARS No. 21: Frequently Asked Questions and Answers
The CPEA has received a number of questions about SSARS No. 21, in particular, questions related to section 70, Preparation of Financial Statements, of the standard. To further help our members understand and implement the new standard, we present those frequently asked questions and our answers to those questions in this report.
- SSARS No. 21 and the New Preparation Engagement: Additional Frequently Asked Questions and Answers
As a follow up to our initial report addressing frequently asked questions about SSARS No. 21, the CPEA developed these additional questions and answers based on inquiries submitted by our members.
- SSARS No. 21: Key Changes to Compilation Engagements
In this report, we highlight some key changes to the compilation professional literature made by SSARS No. 21. The new compilation guidance is contained in AR-C section 80, Compilation Engagements.
- SSARS No. 21: Key Changes to Review Engagements
In this report, we highlight changes to the professional literature related to review engagements made by SSARS No. 21. The new review engagement guidance is contained in AR-C section 90, Review Engagements.